1. Technical Field
The present invention relates to an automated teller machine (ATM), and more particularly an automated teller machine that allows one to obtain cash from an account via various processes such as an ATM process or a point-of-sale process, with both debit cards and credit cards.
2. Description of the Prior Art
In today's society, there are many ways in which to purchase goods and services. The most common way is with cash. Cash is almost always accepted since it is a bearer instrument. Other common methods include checks, credit cards, and electronic fund transactions (EFTs) that utilize debit or ATM cards. Often, in order to prevent fraud, a person utilizing a check or credit card must present some form of identification. Additionally, with EFTs, a personal identification number or PIN is required. Accordingly, some places insist upon payment in cash.
Convenience sometimes dictates the method of payment. Sometimes it is simply inconvenient or impossible to utilize a check, credit card or debit card in various situations; for example, in casinos, nightclubs or bars where one is not running a "tab", or simply when an establishment is not equipped to handle credit cards and EFTs. Likewise, many establishments do not wish to bother with the risks associated with accepting checks, even with proper authentication and identification.
Since cash is so desirable, automated teller machines or ATMs have become extremely commonplace. At ATMs, one inserts an ATM or debit card into the machine, enters a PIN, and selects an amount of cash. The cash is then disbursed by the machine, provided there is enough cash within the person's account. However, banks have established preset limits, which often are $300 a day, and accordingly if one needs more than the limit or has already exceeded the limit, they will be unable to obtain more cash until the next day.
Often when one purchases items or services via an EFT with a debit or ATM card, the money is debited from the person's account as a point-of-sale transaction. The banks set different limits for point-of-sale transactions versus ATM limits. Accordingly, one can reach their ATM limit and not be able to obtain more cash that day from an ATM, but will still be able to purchase goods and services via a point-of-sale transaction because of the distinct and separate limit for point-of-sale transactions.
With a credit card, one can make a point-of-sale transaction for the purchase of goods and services. Additionally, one can obtain cash advances either in person or via an ATM with the credit card. However, credit cards also have PINs and if one does not regularly utilize a credit card for obtaining cash advances, one will have difficulty remembering their PIN. Since it is not wise to carry copies of your PIN on your person in case of theft, if one does not remember their PIN, one will be unable to obtain cash from an ATM with a credit card.
Accordingly, a method and apparatus for obtaining cash from one's account when their daily ATM limit has been reached, or for obtaining cash when one cannot remember their credit card PIN, is needed.